Felons Can Be Loan Originators in Ohio
If you're new here, you may want to subscribe to my RSS feed. Thanks for visiting!
Here is a story that I can not believe. Because of a judge in Ohio, you can be a loan originator in that state and be a convicted felon. The judge ruled that because a felon had completed his sentence the state can not regulate their opportunity to earn a living.
I wonder if that same judge would allow a sex offender to run a day cares. If someone has been shown not to be trustworthy you can not put them in a position to get others financial information and destroy their world. How is a homebuyer to know? Hi, I am Jim and want to get a loan. By any chance are you a convict felon? JEESHHH!!!
To say Thomas Sands isn’t exactly the poster boy for mortgage brokers would be like saying Michael Jackson isn’t exactly Babysitter of the Year. This is a man who has pleaded guilty and served time for stealing from and cheating clients. On top of that, Sands has a long history of declaring bankruptcy and repeatedly defaulting on his own home loans.
According to the Columbia Dispatch, Thomas Sands was a hot-shot attorney in Zanesville, Ohio who lived an exuberant lifestyle. Planes and real estate were purchased with money he cheated his clients out of. In 1994, Sands pleaded guilty to 16 counts of forgery and grand theft. He was ordered to forfeit his law license, pay back client losses of $800,000, and spend nearly two years in prison.
Two years after his release, Sands found a brand new career as a loan officer.
His new gig was almost short-lived in 2002 when the state of Ohio began running background checks for loan officers as part of its licensing process. They flagged Sands’ application and informed him it would be denied.
Sands appealed and won, claiming that his criminal history was just that – history, and that he was now living clean and abiding by the law. Yet, his personal problems persisted. For the third time in 10 years, he defaulted on his mortgage and filed for bankruptcy.
State Allows Felon to Originate Loans - OriginatorTimes.com.
You're right. If you come from Central Jersey (as the Boss and I do), you go to Florida at some ...
Maybe it was kryptonite...
ECONOMIC REPORT
'Prolonged' recession, higher joblessness seen likely
NABE survey indicates most economists now believe U.S. recession's started
By Mike ...
I couldn't agree more.
The newspaper has always "stuck" it to the real estate agent with rates that were much higher ...
By the way, homeowners trying to get short sale approval should be aware that lenders are comparing the initial loan ...
Ouch! Thankfully I haven't come across anything like that yet. We normally don't have situations like that in ...
well, the guy was here illegally.
serves him right. 
BY USING FIRST CLAIM INSURANCE ADJUSTERS YOU WILL HAVE THE ABILITY TO LOOK AT YOUR INSURANCE SETTLEMENT AND REALIZE FIRST ...
not bad 
I can't speak for the whole state of Nevada, but in the Las Vegas area, homes are still selling, we ...
Comment by Danyael on 1 May 2007:
In your assumption that all felons are equal, I would like to point out that you are a fucking moron. First off, someone being convicted of a sex crime is not even in the same class as someone convicted of, lets say Breaking & Entering. Sexual offenders are typically thought to be non-rehabilitative (there are those few who never offend again). Someone convicted of breaking & entering usually has a whole different world of circumstances. They both broke the law, but that is all they have in common.
Are you so perfect that you have NEVER violated any rule or law? E VER? If you say you haven’t, I’ll call you a lying cocksucker to your face. Regardless what you think, many people who are felons learn from their mistakes… and the only difference between them and you are they have been caught!
Comment by nobody on 19 October 2007:
Since I know this person that was convicted of MULTIPLE felonies…forging and stealing clients money, he was and still is the type that should NEVER have access to others financial information. Seems that someone missed reading that part. Sorry that the previous poster can’t speak without resorting to name calling.
Comment by nobody on 29 June 2008:
After reading this again, I believe that I can say with absolute certainty, that the comment from “danyael” was from Tomass Sands himself! Rehabilitated? Not hardly.
Comment by The4ngryG4mer on 30 June 2008:
So you think that someone convicted “Drug Trafficing” in college for selling dime bags of pot to other students? I hardly think that warrants not allowing someone to be a loan officer.
Maybe they should narrow it to be “public trust” convictions….
Comment by Layla on 11 July 2008:
That makes no sense for people who can’t be trusted to be in a position of power.